QUESTION 9 15 points (Extra Credit) Save Arower In a market of UT sweatshirts, market demand is given by the equation Q=

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Question 9 15 Points Extra Credit Save Arower In A Market Of Ut Sweatshirts Market Demand Is Given By The Equation Q 1 (24.44 KiB) Viewed 13 times

QUESTION 9 15 points (Extra Credit) Save Arower In a market of UT sweatshirts, market demand is given by the equation Q=150-2P and market supply is given the equation Q=3P, where Pis market price. Suppose Dr. Heinz Doofenshmirtz, an evil scientist, has convinced the bookstore that sells sweatshirts to impose a surchage (as a tax) on every UT sweatshirt sold so that he would use the proceeds from the surcharge towards buliding an Obliterate inator-a promising device that supposedly would obliterate all forms of cheating in UT onlines classes. The bookstore manager has decided to impose surcharge for $25 per sweatshirt sold. All proceeds froms teh surcharge go to Dr Doof to finance his inator. How much money will Dr. Doofenshmirts is going to recieve from the bookstore? How is the burden of the surcharge ($25) divided between the bookstore and the students? Whose burden is heavier: students' or bookstore? [Hint: you can use algebra to find the equilibrium before and after the surcharge and answer the questions, alternatively, you can use graph paper, draw the supply and demand equations, and find the answers.] 1510/30 or ALTEN+E10 (Mac)